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Composites Market by Fiber Type, Resin Type, Manufacturing Process, Application, Region - Global Forecast to 2022

Composites Market: Global Forecast until 2022

  • August 2017
  • 195 pages
  • ID: 5088873
In this report:
The market of carbon fiber-reinforced composites in Asia-Pacific is projected to register a volume CAGR of ##.##% during 2017-2022 and it is expected to grow to ##.## kilotons during the forecast period.
Europe's consumption of composites in wind energy was ##.## kilotons in 2016 and it is projected to reach ##.## kilotons by 2022, at a CAGR of ##.##% during the forecast period.

Summary

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The composites market is forecasted to reach ~$115.4B by 2022, at a compound annual growth rate of ~8.1 percent between 2017 and 2022. Growing use of composites in the aerospace & defense, transportation, wind energy, construction & infrastructure, and pipes & tanks applications is driving the increase of the composites market across the world. Nevertheless, the high processing and manufacturing costs of composites and lack of standardization in the composite manufacturing technologies are some of the factors anticipated to restrain the rise of the composites market during the outlook period.

In terms of value importance, the aerospace & defense application segment is projected to dominate the composites market during the estimate period.

The aerospace & defense application is forecasted to dominate the composites market during the outlook period.The increase of this application segment of the composites market can be accredited to increased use of composites in the aircraft structures.

Composites used in different aircraft structures including wings, fuselage, aircraft interiors, etc. as they can survive extreme operating conditions including high stress, shocks, and impact loads. Therefore, there is a rise in the industry demand for composites for making new generation aircraft including Airbus A350 XWB and A320neo and the Boeing 787 and 737 MAX.

The Asia-Pacific composites market is expected to grow at the highest compound annual growth rate (CAGR) in terms of quantity between 2017 and 2022.

The Asia-Pac region is the most important consumer of composites in the globe, succeeded by the North American area.It is also anticipated to be the most promising market for composites in the next five years.

Quick industrialization and urbanization in the territory have led to increased use of composites in the aerospace & defense, construction & infrastructure, wind, pipes & tanks, and transportation applications. China (CN) is the biggest market for composites in the Asia Pacific (APAC) area due to the quickly increasing manufacturing market in the area.

In the process of finding out and checking the sizes collected by secondary research for the composites market, its segments and sub-segments, extensive primary audit sessions have been conducted. The breakdown of these primary interviews has been given as follows:-

• By Company category: Tier 1-10.0 percent, Tier 2-25.0 percent, and Tier 3-65%.

• By Description: C-level-10%, Director Level-30%, and Others-60%

• By Area: North America-20%, Europe-15%, Asia-Pacific-45%, Latin America-11%, and the Middle East (ME) & Africa-9%

Composites are also being used in several other applications including sporting goods, consumer goods, healthcare, etc. They are being used for manufacturing skis, snowboards, golf clubs, archery bows, fishing rods, racquets, stacking chairs, etc.

The analysis is expected to benefit the market top players/new sector entrants in the composites market in these ways:

1. This document breaks down the composites market comprehensively and offers the best approximations of the revenue data for the global market and its sub-segments across several verticals and localities.

2. The market research is expected to benefit the partners to apprehend the pulse of the sector and offers them information on the main market drivers, market restraints, opportunities, and alternatives.

3. This industry report is expected to benefit the partners to comprehend the players and obtain business insights to improve their positions in the composites market. The competitive outlook section includes the ecosystem of competitors, market investments & business developments, recent product launches, and strategic agreements.

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